SIBOR stands for Singapore Interbank Offered Rate  and SIBOR stands for Singapore Interbank Offered Rate  and is a daily reference rate based on the interest rates at which banks offer unsecured funds to other banks in the Singapore wholesale money market (or interbank market ). It is similar to the widely used LIBOR ( London Interbank Offered Rate ), and Euribor (Euro Interbank Offered Rate). Using SIBOR is more common in the Asian region and set by the Association of Banks in Singapore (ABS).
SIBOR comes in 1-, 3-, 6-, or 12-month tenure. At the end of the tenure, the borrowing bank returns the borrowed fund to the lending bank. The 3-month SIBOR is the most popular rate that has been rated as one of the hottest places in the past few years.
Many floating rate mortgages in the country are pegged to SIBOR due to its transparency. Alternatives to SIBOR include SOR, Fixed-rate mortgages, Combos (Combination of SIBOR and SOR). Although they may be higher or lower than SIBOR at any point in time, they usually move in tandem with the direction of SIBOR and are used by banks to help price loans.
- Adjustable-rate mortgage
- Fixed-rate mortgage
- Singapore Swap Offer Rate (SOR)
- Prime rate
- TED spread
- LIBOR-OIS spread
- Jump up^ Singapore tells banks to review Sibor, Financial Times 25 July 2012